Deloitte partners, can you give me a good reason why I should be applying to your firm right now? Why should I be interested in a firm that would layoff of me and my colleagues the instant leadership thinks a global catastrophe will strike? Serious replies please.

likefunnyhelpful
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Because all of the firms are the same (all layoff) and IF you are good and play your cards right the financial incentives are fantastic

likesmarthelpful

D12 nailed it better than I did. Deloitte was shockingly ruthless and then proceeded to have its two best years ever. Now we could not have known how this was going to play out but it was still stunning what was done. A lot of senior partners were taken out via a special program, and MD’s were also taken out in far bigger numbers than expected

It all worked out but it did shake up a lot of people

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Cause it’s a business. You can go work at a bakery, but if demand isn’t high, why is your boss going to keep you? They pay you for a service and when that is no longer needed then they will need less people. As a manager you should know that.

Working at big 4, your raise will be bigger than working at a smaller firm and it looks good on the resume. The benefits such as health insureance and vacation are better. Why would you stay at a smaller firm? Or a crappy fund admin. When you can go to a big 4 and open bigger doors for yourself. Is it a risk working at Deloitte yes but that would go for any firm, if anything smaller firms are known to fire right after busy season, big 4 doesn’t do that usually. Even if your bad you get a pip and look for something else before you get fired. As an adult I would rather get that chance then go to a small firm and get a surprise. Also there are so many people in big4 that you can easily survive being an an average performer.

I recently got a 20k retention bonus to stay at Deloitte, my friends at rsm, gt, and small firms aren’t getting that. I got 14k cash that I used to up my emergency fund.

Deloitte is really looking to bump up hiring, if anyone is interested to join tax private equity please send me a message. They are open to interviewing anyone with any tax experience.
I will be happy to answer any questions you have and have already submitted a few resumes.

likesmart

I mean all big 4 are like this, and big 4 has more resources and benefits than some midsize firm. And they pay the most

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OP, regarding the layoff, do you mean you are afraid of being laid off because you think Deloitte do it in a chronological order? Or you think Deloitte will specifically treat you worse? Deloitte is a normal business and you are one of the normal candidates, so don’t be narcissistic.

funny

Narcissistic is a new one.

likefunny

Generally speaking, you won’t be laid off if you’re a high performer…so demonstrate value and it’s not a problem.

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The short answer is that they're just throwing money to hire folks. Higher raises, bonuses, etc than any of their peers.

They were also the most ruthless of the B4 this past pandemic. Across the board cuts that weren't necessarily performance based. Other posters are right. PwC and EY (didn't hear anything on KPMG) were regular annual performance churns no different from any other firms pre-2020. DT's was different. It also got DT into a hole that is forcing them to throw money to get folks back. My whole group has been contacted directly by at least one Deloitte partner (in my case, two) looking to jump ship.

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Very true. D is reckless is hiring as well as firing.

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Tax Manager - How does what you are describing apply solely to Deloitte? Did no other firm lay people off at the first sign of trouble?

Nope. Plenty of firms waited. Particularly when we’re talking about tax professionals who have to file all the returns that were on extension.

All 4 big four laid people off in 2020, just at different times.

This! Some were just more frank about it than others.

like

Deloitte rarely leads in anything. If PWC and EY areThinking of some thing then rest assured Deloitte will be doing it two weeks later

KPMG just announced that they will pay for you to study for your CPA!

like

Suppose you should start your own firm and try never laying off anyone.

Are you also keeping employees that aren’t a good fit/underperforming under this model?

There is no good reason. Just don’t join. I am serious.

So the increase in referral bonus is just to push employees to convince friends who were on the fence and needed a little more incentive? In other words professionals who already want to leave their current role or were let go from their most recent position.

Not sure you’re getting top performers if that’s the approach in this job market.

funny

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